By Sydney Finkelstein
Talented leaders will be introduced low through their good fortune whilst self-confidence slides into over-confidence and reliable press results in prideful pondering. Obstinancy, fanaticism, and emotions of invincibility can push a reliable chief right into a hubristic fog. during this short-form e-book, Dartmouth's Sydney Finkelstein, who has studied undesirable judgements and enterprise mess ups for greater than fifteen years, tells the right way to keep away from the seven undesirable conduct of unsuccessful humans.
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A blizzard of indictments followed. Fastow pleaded guilty to two counts of conspiracy and agreed to testify against Skilling and Lay in return for a sentence of only 10 years. Lay argued that he had been misled by his people, but was convicted on six counts of conspiracy and wire fraud. He died unexpectedly of a heart attack before he could be sentenced. Skilling was convicted on 19 counts and is serving 24 years in prison. Would things have turned out differently if Lay had been willing to listen to Sherron Watkins?
Reading it in Houston, a furious Lay called Gerald Levin, CEO of the recently merged AOL-Time Warner, which owned Fortune. He demanded that “that woman” be fired. After checking with McLean and her editors, he called back to tell Lay that the magazine wouldn’t retract the story or issue any corrections, and that McLean would keep her job. That was the turning point for Enron. Sensing disaster, Skilling resigned as CEO on August 14. Lay got Watkins’ warning the next day. He accepted his lawyers’ predictable assurance that nothing was wrong, but fired Fastow to appease the investment community.
But as the obstacles kept mounting, the enthusiasts championing the idea became fanatics who refused to give up. In fact, the phone is still alive today, which makes this cockeyed story even more interesting. Iridium’s main attraction was its ability to connect people no matter where in the world they were - a feature that tower technology couldn’t promise at that time. And, in remote corners of the globe, satellite technology is still trumps. When I made my case against the Iridium phone during a speech in Australia, a man in the audience raised his hand and told me I was all wrong; he and his mates loved it.